[As adopted in Release No. 34-38850, July 18, 1997, effective September 2, 1997,
                                62 F.R. 39755.]

                    U.S. Securities and Exchange Commission

                             Washington, D.C. 20549

                                   Form 10-QSB

(Mark One)
        [X] QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES
                              EXCHANGE ACT OF 1934

                 For the quarterly period ended: March 31, 1999

             [ ] TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE
                                  EXCHANGE ACT

       For the transition period from _______________ to _________________

                         Commission file number 0-21991

                        ADVANCED GAMING TECHNOLOGY, INC.
       (Exact name of small business issuer as specified in its charter)

            Wyoming                                             98-0152226
  (State or other jurisdiction                                 (IRS Employer
of incorporation or organization)                            Identification No.)

                       P O BOX 46855 Las Vegas,  NV 89114  (Address of principal
                    executive offices)

                                 (702) 227-6578
                           Issuer's telephone number

     (Former name,  former address and former fiscal year, if changed since last
report.)


<PAGE>

     Check  whether  the issuer (1) filed all  reports  required  to be filed by
Section 13 or 15(d) of the  Exchange  Act during the past 12 months (or for such
shorter period that the  registrant was required to file such reports),  and (2)
has been subject to such filing requirements for the past 90 days. Yes X No

               APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY
                   PROCEEDING DURING THE PRECEDING FIVE YEARS

     Check whether the registrant filed all documents and reports required to be
filed by Section 12, 13 or 15(d) of the Exchange Act after the  distribution  of
securities under a plan confirmed by a court. Yes X No

                      APPLICABLE ONLY TO CORPORATE ISSUERS

     State the number of shares  outstanding of each of the issuer's  classes of
common equity, as of the latest practical date: June 30, 1999 115,330,600

      Transitional Small Business Disclosure Format (check one). Yes ; No x






                                        2

<PAGE>

                         PART I - FINANCIAL INFORMATION

Item 1. Financial Statements

     The unaudited condensed  consolidated financial statements presented herein
have been prepared by the Company in accordance  with the  instructions  to Form
10-QSB and do not include all of the information and note  disclosures  required
by  generally  accepted  accounting  principles.  These  condensed  consolidated
financial  statements  should  be  read in  conjunction  with  the  consolidated
financial statements and notes thereto included in the Company's Form 10-KSB for
the year ended December 31, 1998. The accompanying financial statements have not
been examined by independent  accountants in accordance with generally  accepted
auditing standards,  but in the opinion of management such financial  statements
include  all  adjustments  (consisting  only of  normal  recurring  adjustments)
necessary  to present  fairly the  Company's  financial  position and results of
operations.  The results of operations for the three months ended March 31, 1999
may not be  indicative  of the results  that may be expected for the year ending
December 31, 1999.
















                                        3
<PAGE>

                        Advanced Gaming Technology, Inc.
                      CONDENSED CONSOLIDATED BALANCE SHEETS
                                   (Unaudited)


                                                    March 31        December 31
                                                      1999             1998
                                                   -----------      -----------
ASSETS
Current Assets
Cash and cash equivalents ......................   $    45,026      $   109,824
Accounts receivable, net .......................        79,235            7,825
Prepaid expenses ...............................         5,285            5,285
Inventory ......................................        20,000           20,000
                                                   -----------      -----------
Total current assets ...........................       149,546          142,934
                                                   -----------      -----------

Property and Equipment, net ....................       183,740          204,740


Intangible and other assets ....................     3,442,604        3,442,604
                                                   -----------      -----------

     Total assets ..............................   $ 3,775,890      $ 3,790,278
                                                   ===========      ===========











     The accompanying  notes are an integral part of the condensed  consolidated
financial statements.

                                        4

<PAGE>

                        Advanced Gaming Technology, Inc.
                      CONDENSED CONSOLIDATED BALANCE SHEETS
                                   (Unaudited)


                                                    March 31        December 31
                                                      1999             1998
                                                   -----------      -----------
LIABILITIES AND STOCKHOLDERS' DEFICIT

Current liabilities
Liabilities Subject to Compromise
 Accounts payable and accrued liabilities ......   $ 2,863,088      $ 2,766,588
 Notes payable .................................       313,000          313,000
 Convertible notes .............................       748,750          748,750
 Current portion of long-term debt .............     3,918,371        3,918,371
                                                   -----------      -----------
Total current liabilities ......................     7,843,209        7,746,709

Long term obligations, net of current portion ..           --               --
                                                   -----------      -----------
Total Liabilities Subject to Compromise ........     7,843,209        7,746,709
                                                   -----------      -----------
Stockholders' Deficit
 Preferred Stock - 10% cumulative, $.10 par value;
 authorized 4,000,000 shares; issued - nil ....            --               --
Common Stock - $.005 par value; authorized
 150,000,000 shares; issued and outstanding
 115,330,600 in 1999 and 1998 ..................       576,653          576,653
Additional paid-in capital .....................    32,044,903       32,044,903
Accumulated deficit ............................   (36,688,875)     (36,577,987)
                                                   -----------      -----------
Total stockholders' deficit ....................    (4,067,319)      (3,956,431)
                                                   -----------      -----------
Total Liabilities and Stockholders' Deficit ....   $ 3,775,890      $ 3,790,278
                                                   ===========      ===========






     The accompanying  notes are an integral part of the condensed  consolidated
financial statements.

                                        5

<PAGE>

                        Advanced Gaming Technology, Inc.
                 CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
                                   (Unaudited)
                       For the Three Months Ended March 31


                                                      1999             1998
                                                   -----------      -----------
Revenue ........................................   $    87,501      $   184,790
Cost of revenue ................................             -           92,280
                                                   -----------      -----------
Gross margin  ..................................        87,501           92,510
                                                   -----------      -----------

Expenses .......................................       101,889        1,060,118
                                                   -----------      -----------

Loss from operations ...........................        14,388          967,608

Other income (expense), net ....................       (96,500)         873,318
                                                   -----------      -----------
Net Loss .......................................   $  (110,888)     $   (94,290)
                                                   ===========      ===========

Net loss per common share ......................   $       --       $       --
                                                   ===========      ===========

Weighted average common shares outstanding .....   115,330,600       27,367,080











     The accompanying  notes are an integral part of the condensed  consolidated
financial statements.

                                        6

<PAGE>

                        Advanced Gaming Technology, Inc.
                 CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
                                   (Unaudited)
                       For the Three Months Ended March 31


                                                          1999          1998
                                                      -----------   -----------
Cash Flows From Operating Activities:
Net Loss ...........................................  $  (110,888)  $   (94,290)
Adjustments to Reconcile Net Loss to Net
Cash Provided by (Used in) Operating Activities:
Depreciation and amortization ......................       21,000       316,434
Issuance of common stock for expenses ..............          --         93,500
Change in operating assets and liabilities:
Accounts receivable ................................      (71,410)      (68,924)
 Prepaid expenses ..................................          --         56,934
 Deferred charges ..................................          --        192,218
Inventory ..........................................          --         53,550
Notes receivable ...................................          --            809
Accounts payable and accrued liabilities ...........       96,500      (922,620)
                                                      -----------   -----------
Net cash used in operating activities ..............      (64,798)     (372,389)
                                                      -----------   -----------

Cash Flows From Investing Activities:
Intangible assets ..................................          --            --
Purchase of property and equipment .................          --            --
Disposal of property and equipment .................          --        298,144
Security deposits ..................................          --         (2,181)
 Deferred development costs ........................          --          7,750
                                                      -----------   -----------
Net cash provided by (used in) investing activities.          --        303,713
                                                      -----------   -----------









                                        7
<PAGE>

                        Advanced Gaming Technology, Inc.
                 CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
                                   (Unaudited)
                      For the Three Months Ended March 31,

                                                          1999         1998
                                                      -----------   -----------
Cash Flows From Financing Activities:
Proceeds from issuance of common stock .............          --      1,560,345
 Proceeds from debt and notes ......................          --            --
 Repayment of debt and notes .......................          --       (625,000)
 Payment of convertible notes ......................          --     (1,250,000)
Proceeds from convertible notes ....................          --        150,000
Principal payments on long-term debt ...............          --        (33,599)
Proceeds from long-term debt .......................          --        306,112
                                                      -----------   -----------
Net cash provided by financing activities ..........          --        107,858
                                                      -----------   -----------

Net increase(decrease) in cash and cash equivalents       (64,798)       39,182

Cash and cash equivalents at beginning of period ...      109,824        17,276
                                                      -----------   -----------

Cash and cash equivalents at end of period .........  $    45,026   $    56,458
                                                      ===========   ===========



Supplemental Disclosure of Cash Flow Information:
Cash paid during the period for interest ...........  $       --    $   122,377
Supplemental Disclosure of Non-Cash Investing
and Financing Activities:
Conversion of notes to common stock ................  $       --    $ 1,577,124
Issuance of common stock for debt reduction ........  $       --        310,696








     The accompanying  notes are an integral part of the condensed  consolidated
financial statements.

                                        8
<PAGE>

                        Advanced Gaming Technology, Inc.
              NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
               FOR THE THREE MONTHS ENDED MARCH 31, 1999 AND 1998
                                   (Unaudited)

1.   Interim Reporting

     The accompanying unaudited condensed consolidated financial statements have
been prepared in accordance with generally  accepted  accounting  principles and
with Form  10-QSB  requirements.  Accordingly,  they do not  include  all of the
information and footnotes required by generally accepted  accounting  principles
for complete financial statements. In the opinion of management, all adjustments
considered  necessary  for a fair  presentation  have been  included.  Operating
results for the three month period  ending March 31, 1999,  are not  necessarily
indicative  of the results that may be expected for the year ended  December 31,
1999. For further  information,  refer to the financial statements and footnotes
thereto  included  in the  Company's  annual  report on Form 10-KSB for the year
ended December 31, 1998.


Item 2. Management's Discussion and Analysis or Plan of Operation.

General -

     This discussion should be read in conjunction with Management's  Discussion
and Analysis of Financial  Condition  and Results of Operations in the Company's
annual report on Form 10-KSB for the year ended December 31, 1998. The Company's
shares of  capital  stock are  registered  under  Section  12 of the  Securities
Exchange Act of 1934. The Company became a reporting  issuer in March 1997. This
quarterly  report on Form 10-QSB and the  information  incorporated by reference
herein contain forward looking  statements  within the meaning of Section 27A of
the  Securities  Act of 1933,  as amended,  and  Section  21E of the  Securities
Exchange Act of 1934, as amended.  Such statements include,  but are nor limited
to,  projected sales,  gross margin and net income figures,  the availability of
capital   resources,   plans   concerning   products   and  market   acceptance.
Forward-looking  statements are inherently  subject to risks and  uncertainties,
many of which cannot be predicted  with  accuracy and some of which may not even
be anticipated. Future events and actual results, financial and otherwise, could
differ materially from those set forth in or contemplated by the forward-looking
statements  herein  and any  forward-looking  statements  should  be  considered
accordingly.

     The  company  filed  for  reorganization  under  chapter  11 of the  U.  S.
bankruptcy code on August 26, 1998.  Since that time,  efforts have been focused
on  developing  a new  operating  strategy  and  completing  the  reorganization
process.

                                        9
<PAGE>

     The company filed a plan of  reorganization  in December 1998. The plan and
disclosure  statement was approved in March1999.  The plan of reorganization was
confirmed  by the  bankruptcy  court on June 29,  1999.  The plan is expected to
become effective in early August 1999.

     Confirmation  of the plan gives the company a new start and an  opportunity
to execute a new  business  plan.  The company  will  receive  approximately  $1
million on the  effective  date of the plan through  settlement  of  outstanding
litigation and new investment in the company. The new business plan will attempt
to capitalize on the existing  electronic  bingo systems.  The company will also
look to explore new gaming related  products and services as such  opportunities
become available. Diversification of operating revenue is a long-term goal.


Results of Operations -

1999 Compared to 1998

     The loss for the three months ended March 31, 1999 was $110,888 compared to
a loss of $94,290 for the same period in 1998.  Revenue was $87,501 in the first
quarter of 1999  compared to $184,790 in 1998.  Most revenue in 1999 was royalty
revenue from the Max Plus licensing agreement. Most of this revenue had not been
collected at March 31, 1999 due to a dispute with the licensee.

     The  licensing  matter  was  resolved  in July of 1999.  The  parties  were
disputing payments received under the agreement.  The company filed suit against
the licensee and its successor in June of 1999.  The matter was resolved in July
of 1999. The company  received a one-time payment of $850,000 in full settlement
of the licensing agreement. The company regains the right to market the Max Plus
and TurboMax systems.

     Expenses for the quarter  ended March 31, 1999  decreased to $101,889  from
$1,060,118 in 1998. A substantial cost reduction effort was implemented when the
reorganization effort began in August 1998.

     Other  income(expense)  for the  first  quarter  of 1998 was  boosted  by a
one-time  license fee related to the Max Plus  license and royalty  agreement of
$1,500,000.  This  caused  net other  income  for the first  quarter  of 1998 of
$873,318.  Other income  (expense) for the first quarter of 1999 of consisted of
an expense of $96,500. This cost represented interest expense on notes payable.

                                        10
<PAGE>


     Interest expense  decreased  substantially in the first quarter of 1999 due
to the conversion of some  obligations to common stock during the second half of
1998 and due to  re-negotiation  efforts  in  conjunction  with  the  bankruptcy
proceeding.

Inflation and Regulation -

     The  Company's  operations  have not  been,  and in the  near  term are not
expected to be, materially affected by inflation or changing prices. This is due
in part to the highly capital  intensive  nature of the majority of the business
of the Company,  thereby reducing the chances of competition providing for sales
price  reductions  while  inflation  in the costs  are more  likely to be passed
through to the customer. The Company's operations are subject to state and local
gaming laws as well as various federal laws and regulations  governing  business
activities with Native American  Tribes.  The State and local laws in the United
States  which govern the lease and use of gaming  products are widely  disparate
and  continually  changing due to  legislative  and  administrative  actions and
judicial interpretations.  If any changes occur in gaming laws through statutory
enactment or amendment,  judicial decision or administrative  action restricting
the manufacture,  distribution or use of some or all of the Company's  products,
the Company's  present and proposed  business could be adversely  affected.  The
operation  of gaming on Native  American  reservations  is subject to the Indian
Gaming Regulatory Act ("IGR").  Under IGR certain types of gaming activities are
classified  as Class I, Class II or Class III. The  Company's  business  will be
impacted based upon how its products are  ultimately  classified.  However,  the
Company does not believe that any recently enacted or presently pending proposed
legislation will have a material adverse effect on its results of operations.

Liquidity and Capital Resources -

     The Company has minimal  revenues,  but has eliminated most operating costs
until additional product can be placed. The company's plan of reorganization was
confirmed by the bankruptcy court in the district of Las Vegas on June 29, 1999.
The plan is expected to become  effective in early August,  1999. In conjunction
with the plan and settlement of outstanding  litigation the company will receive
approximately $1 million of new funding.  The company believes that this funding
will be  adequate  for  near-term  operating  needs.  In the  future  additional
financing  may be  necessary  to support  expansion  of existing  products or to
pursue new projects.  There is no certainty that such funds will be available to
the company  when needed.  This could  inhibit  future  growth of the company or
could cause the company to delay future projects until financing is available.

                                       11
<PAGE>

                           PART II - OTHER INFORMATION

Item 1. Legal Proceedings

     None.

Item 2. Changes in Securities

     None.

Item 3. Defaults Upon Senior Securities

     None.

Item 4. Submission of Matters to a Vote of Security Holders.

     None.

Item 5. Other Information.

     None.

Item 6. Exhibits and Reports on Form 8-K.

     None.
























                                       12
<PAGE>


                                   SIGNATURES

     In accordance  with the  requirements  of the Exchange Act, the  registrant
caused this report to be signed on its behalf by the undersigned, thereunto duly
authorized.

                        ADVANCED GAMING TECHNOLOGY, INC.
                                  (Registrant)

DATE: July 28, 1999                        By: /s/ Daniel H. Scott
      --------------                          ---------------------
                                              Daniel H. Scott,
                                              President, Chief Executive Officer
                                              and Chairman
                                             (Principle executive and
                                              accounting officer)




























                                       13